作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
months respectively from the date of the agreement. With each payment, Louise
agreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
: E# [# h" a) m# k1 m3 D0 ifailed to make the first payment and now wishes to settle her obligations with a
/ D5 D1 b! M  [- y; {7 Xsingle payment four months from now. What payment should Thelma be willing to
$ D6 N5 ~2 r( \6 x8 o  f) Y7 J1 G( X0 j* Faccept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
0 m- \0 e1 b0 Y5 W                Month 0        Mon. 8                  Mon. 12
* J8 D' D2 P  D8 Z) I% s/ y: U* y$ gCash Principal        X        -750                  -950       
Cash Intr (Should Pay)                -X*9.5%*8/12          -(X-750)*9.5%*4/12               
) d' O$ n" L! \  N  WPV at mon 0        X        -[750+X*9.5%*8/12]          -[950+(X-750)*9.5%*4/12]
                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)
$ \# `9 i( y% L5 l# i2 M
) F: k# W3 Q4 X7 L5 ]/ vthese 3 should add up to 0, i.e. NPV at month 0 is 0.
                                       
$ C+ C6 r4 F% P8 cConclusion        X        =        1729.8               
                                       
) M3 P5 w, k( S$ Z2 k/ iSo, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
' K1 K  E  [  U+ x& w. A

littledognancy

Finance 学得不好所以不知道做得对不对。。。看着办吧~ 也许有用。

linchan

对了，答案是$1856.32